Research on the Relationship between Apple Stock Price and Changes in Exchange Rate: Evidence from Fed’s Rate Hike
DOI:
https://doi.org/10.54691/bcpbm.v32i.2874Keywords:
Apple stock price; Exchange rate changes; The Fed’s rate hike.Abstract
The Fed’s Rate Hike changes the exchange rate, which would fluctuate the stock price. This paper uses VAR model and ARMA-GARCH model to determine the relationship between the exchange rate change and Apple stock price from January 2022 to July 2022. The impulse-response estimation suggests that the exchange rate seems to be a slight short-term external shock, and the ARMA-GARCH regression implies that the exchange rate affects the stock price significantly, which is lagging as well.
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